New Delhi, July 27 (IANS) India may receive FCNR (B) deposits in the range of $65-70 billion by the end of the RBI scheme on September 30, and overall $80-$85 billion, an SBI Research report said on Monday.The RBI figure of $20 billion inflows (till July 17) came as a positive reprieve, chiefly with a smart FCNR (B) corpus of $17.4 billion.“We now estimate that FCNR (B) since then has already crossed 2013 level of $26 billion in just 45 days,” said Dr. Soumya Kanti Ghosh, Group Chief Economi…
Latest FCNR-B News & Updates
New Delhi, July 20 (IANS) Foreign Currency Non-Resident (Bank) or FCNR-B inflows in India are expected to boost aggregate bank deposit growth up to 15 per cent in FY27, helping narrow the gap between deposits and credit, although credit expansion is likely to remain robust, according to a report released on Monday.According to a report from SBI Research, around $13-14 billion has already been mobilised through the FCNR-B deposit window, which is expected to strengthen banks’ deposit base during …
Mumbai, July 10 (IANS) India’s foreign exchange reserves surged by $7.260 billion to $674.193 billion in the week ended July 3, reversing the decline recorded in the previous week, according to data released by the Reserve Bank of India (RBI) on Friday.The value of India’s gold reserves rose by $2.669 billion to $105.205 billion during the reporting week.The country’s holdings of Special Drawing Rights (SDRs) with the International Monetary Fund also increased by $65 million to $18.623 billion.T…